Ellis Capital acquires significant stake
Ellis Capital acquires significant stake in National Mail
Auckland based investment bankers, Ellis Capital Limited, today announced that it has it had acquired a stake of 2,761,548 shares in alternative postal operator National Mail New Zealand Limited. This represents 10.3 percent of the issued capital of the company.
Ellis Capital executive, John Southworth, described the move as a term investment in a growth company which has wonderful opportunities.
“We expect National Mail to take significant market share from the incumbent postal operator which, until recent deregulation, had been a state owned monopoly,” Mr Southworth said.
He said the recent New Zealand sharemarket malaise offered an excellent opportunity to buy stock at bargain prices and won’t rule out purchasing more stock in National Mail.
Ellis Capital limited is an Auckland-based investment bank which specialises in capital raising and capital restructuring in the small to medium capital market.
It is an aggressive and acquisitive investor, which plans to continue to acquire stakes in undervalued high growth companies.
For further information, please contact:
Ellis Capital Limited
Tel: 0-9-379 1661